We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Global Partners LP (GLP) Rises As Market Takes a Dip: Key Facts
Read MoreHide Full Article
Global Partners LP (GLP - Free Report) closed the latest trading day at $46.96, indicating a +0.15% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw a decrease of 0.33%.
Shares of the company witnessed a gain of 3.67% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.17% and the S&P 500's loss of 4.05%.
Investors will be eagerly watching for the performance of Global Partners LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. The company is predicted to post an EPS of $0.10, indicating an 85.71% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.22 billion, indicating a 29.54% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.53 per share and a revenue of $23.03 billion, representing changes of -6.12% and +39.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Global Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.49% lower within the past month. Currently, Global Partners LP is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 13.28. This expresses a discount compared to the average Forward P/E of 16.33 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GLP in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Global Partners LP (GLP) Rises As Market Takes a Dip: Key Facts
Global Partners LP (GLP - Free Report) closed the latest trading day at $46.96, indicating a +0.15% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw a decrease of 0.33%.
Shares of the company witnessed a gain of 3.67% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.17% and the S&P 500's loss of 4.05%.
Investors will be eagerly watching for the performance of Global Partners LP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 8, 2024. The company is predicted to post an EPS of $0.10, indicating an 85.71% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.22 billion, indicating a 29.54% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.53 per share and a revenue of $23.03 billion, representing changes of -6.12% and +39.62%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Global Partners LP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 9.49% lower within the past month. Currently, Global Partners LP is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Global Partners LP currently has a Forward P/E ratio of 13.28. This expresses a discount compared to the average Forward P/E of 16.33 of its industry.
The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GLP in the coming trading sessions, be sure to utilize Zacks.com.